All around ortho macro – de facto, debate, diverse (self)critiques, defense, delusion, denial + disagreement - updated 9-2020 see also > history of economics, economics as social science > Economy, Economics, DSGE, mainstream, orthodox, macro, equilibrium, Neoliberalism, Politics, Rethinking Political Economy >reform capitalism, neoliberalism, markets ft.com/ 18-9-2022 The market is not an end in itself bt Larry Kramer … Continue reading Economics – about and around mainstream DSGE orthodox macro
Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only … Continue reading VALUE PRICE marginal utility
"A fool is someone who knows the price of everything and the value of nothing". Central banker Mark Carney has diagnosed a crisis in value(s). He doesn't just mean prices being misaligned with values as in frothy asset overvaluations. That's just a symptom of a deeper malaise. The central idea of his book, says the … Continue reading Banking on Values
degrowth updates here Décroissance, or degrowth, is a story of hope amidst adversity. Just like Xmas. Born of the adversities of a poisoned and plundered planet, degrowthers say "No! No More! Let's get out of the Old National Market Hall of Sickly Scarcity and into the New Global Banquet Hall of Happy Abundance... Yes, contrary … Continue reading DeGrowth or Décroissance anyone? (not just for Xmas)
GROWTH! What Growth? intro/featured/selected – updates here - +here Alf Hornborg writes in his article “How to turn an ocean liner”: “Although soon reduced to a heterodox and marginalized position, the critique of growth has continued to challenge mainstream dogmas of economics and policy for over four decades. Countless debates have raged on what exactly is the problem … Continue reading GROWTH! What Growth?
GM/caw 2019 Mariana Mazzucato's new book is a brilliantly competent and intelligent tour de force about the real existing economy. Her sociological habit of correlating academic economic thought with historic economic realities, relentless demolition of mainstream dogma, forensic analysis of the real flows of power and money and, last but not least, unequivocal rejection of … Continue reading The Real Existing Economy: Value Revisited